Insider Intelligence May 12, 2022
The news: Healthcare price transparency startup Turquoise Health raised $20 million in Series A financing, which was led by venture capital firm Andreessen Horowitz, to launch its direct contracting platform.
How it works: Turquoise Health’s platform lets consumers compare costs of care and insurance rates to help them shop around for the most affordable healthcare services in their area.
- Most of the data used to cross-reference prices of healthcare services across different providers and insurance rates are sourced from the Machine Readable File disclosure required by the government’s Hospital Price Transparency rule, enforced in January 2021. The rule mandates healthcare providers to disclose the rates for all their services that they negotiated with insurers.